Check out the companies making the biggest moves in premarket trading: Rivian Automotive — The EV stock added nearly 4% following an upgrade by Piper Sandler to overweight . The firm also upped its price target to $21 from $15, suggesting 96% upside from Thursday’s close. Analyst Alexander Potter cited Rivian’s new product launch and its decision to delay capital spending for the call. Micron Technology — The semiconductor stock added 2.5%. On Friday, Citi named Micron one of its top picks and increased its price target to $150 from $95, suggesting 64% upside. The bank believes Micron’s stock should get a premium given its increasing exposure to artificial intelligence. Adobe — Shares fell 11% a day after the software company issued weak revenue guidance for its current quarter. However, Adobe topped expectations for earnings and revenue for its fiscal first quarter. It also announced a $25 billion share buyback. Ulta Beauty — Shares tumbled 6.5% a day after the beauty retailer issued full-year earnings guidance that came in on the low end of the consensus forecast. However, Ulta reported an earnings and revenue beat for its fourth quarter. Crypto stocks — Stocks connected to cryptocurrencies fell as bitcoin retreated from its recent highs. Coinbase and Microstrategy shed about 6% and 5%, respectively. Marathon Digital slipped 4%. Sh …
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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making the biggest moves in premarket trading: Rivian Automotive — The EV stock added nearly 4% following an upgrade by Piper Sandler to overweight . The firm also upped its price target to $21 from $15, suggesting 96% upside from Thursday’s close. Analyst Alexander Potter cited Rivian’s new product launch and its decision to delay capital spending for the call. Micron Technology — The semiconductor stock added 2.5%. On Friday, Citi named Micron one of its top picks and increased its price target to $150 from $95, suggesting 64% upside. The bank believes Micron’s stock should get a premium given its increasing exposure to artificial intelligence. Adobe — Shares fell 11% a day after the software company issued weak revenue guidance for its current quarter. However, Adobe topped expectations for earnings and revenue for its fiscal first quarter. It also announced a $25 billion share buyback. Ulta Beauty — Shares tumbled 6.5% a day after the beauty retailer issued full-year earnings guidance that came in on the low end of the consensus forecast. However, Ulta reported an earnings and revenue beat for its fourth quarter. Crypto stocks — Stocks connected to cryptocurrencies fell as bitcoin retreated from its recent highs. Coinbase and Microstrategy shed about 6% and 5%, respectively. Marathon Digital slipped 4%. Sh …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
